NEW YORK, May 2, 2023 /PRNewswire/ — The revenue of the electric pallet jack and stacker market will rise at a rate of 6.1% in the years to come, to touch USD 7,069 million by 2030.
Operator-Driven Variants Are Preferred
- The larger category was the operator-driven type, with about 90% of the revenue, in 2022. Such alternatives are employed for transporting pallets in a warehouse.
- The requirement for operator-powered material handling equipment has been snowballing unceasingly to advance competence in logistics and manufacturing facilities.
- Electric walkie sales have powered the industry growth in the past. Additionally, the sales of automated ride-ons will increase rapidly in the years to come because of the navigation ease offered by them.
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Machines with Lead–Acid Batteries Generate Higher Revenue
- Lead–acid battery variants had the larger revenue share, of around 58%, in the past, says P&S Intelligence. These power sources are extensively used in machine handling equipment because of their high sturdiness and cost-efficiency.
- Furthermore, they have a long operational life and are easy to service. Though, the requirement for lead–acid batteries will decrease in the future with the growing use of lithium-ion batteries.
- The latter offers numerous benefits, for example, a low self-discharge rate, higher energy capacity, and ease of discarding.
- In response, the players are concentrating on launching material handling equipment powered by lithium-ion batteries with higher output ratings and energy capacity.
Above 2,000 kg Load Category Will Grow Considerably
- The sales of systems with an above-2,000-kg load capacity will increase at the highest rate in the market. This is due to their powerful motors allowing them to lift over 2,000 kg at once.
- Consequently, these pallet jacks and stackers are deployed in heavy manufacturing industries for lifting massive loads.
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APAC Makes Most Use of Electric Pallet Jacks and Stackers
APAC had the largest revenue share in 2022, of more than 43%, credited to the high acceptance of these solutions for industrial automation.
The fast urbanization and industrialization in China and India are powering the requirement for energy-efficient equipment, such as automated material handling systems.
High Demand from End-Use Industries Powers Sales Growth
- The high requirement for these solutions from diverse end users, together with the high obtainability of an extensive range of products with diverse load handling capacities, will drive the sales of electric jacks and stackers in the future.
- Moreover, the quick rise in the number of logistics centers and warehouses is propelling the requirement for these material handling machines.
End Users’ Increasing IoT Investments
To survive in this highly competitive environment, industries are increasing their investments in IoT and automation technologies. This is because these approaches enhance productivity and efficiency, speed up the time to market, and decrease operational expenses.
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